IperionX (ASX:IPX) said it is working on pilot production with eight commercial partners to support a rapid path-to-market for high-performance titanium manufactured components, according to a Tuesday Australian bourse filing.

It said that its full system scrap-to-forged titanium product operational capacity at its titanium manufacturing campus in Virginia is expected by mid-year. The commissioning of initial pressing, hydrogen sintering, and phase transformation sintering systems is complete.

It said that multiple government funding applications in the US are underway and it is progressing long-term, tax-exempt bond financing through Virginia's Halifax County Industrial Development Authority to underpin future titanium production expansions.

It is also advancing a definitive feasibility study for the Titan critical minerals project in Tennessee, expected to be completed in the second quarter of 2026. It will define engineering, flowsheets, and infrastructure for long-term supply of titanium feedstock and heavy rare earths, including dysprosium and terbium.

Its shares jumped over 8% in recent Tuesday trade.